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3 years ago

The consumer decision process varies by purchase for each individual.

Business

1 answer:

Ipatiy [6.2K]3 years ago

3 0

Answer:

1. Purchasing a new home entertainment system would be considered by most consumers as a decision with high buyer involvement. When someone is concerned with the outcome of the process, they will spend more time learning about product options and become more emotionally connected to the process and the decision. For example, they might seek out product reviews in Consumer Reports and online sources to discover information that will assist in the choice decision. A high level of involvement usually means the entire process takes longer.

2. Buying gas for your car would be considered by most consumers as a decision with low buyer involvement. Decisions are often made almost automatically, often out of habit, with little involvement in the purchase decision.

Explanation:

You might be interested in

Economics may best be defined as the Multiple Choice

AysviL [449]

Answer:

2. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.

Explanation:

Economics is defined as a study of how a society uses its limited resources. It deals with consumption, distribution, and production of goods and services.

Economics tries to find ways that unlimited wants can be satisfied with limited resources. Theories postulated are focused on how to optimally use scarce resources for production of goods and services, how am individual or organisation can maximise it's utility of a product.

8 0

4 years ago

A local bookstand believes that the demand for the Olympic edition of a sports magazine is normally distributed with a mean of 1

atroni [7]

Answer:

1,304 copies

Explanation:

Overage cost (Co) means like cost of over ordering

Co = Cost price - Salvage value

Co = $1.50 - $0 (No salvage value)

Co = $1.50

Underage cost (Cu) means like cost of under ordering

Cu = Selling price - Cost price

Cu = $5.00 - $1.50

Cu = $3.50

Service level = Cu / (Cu + Co)

Service level = $3.50 / ($3.50 + $1.50)

Service level = $3.50 / $5.00

Service level = 0.7

Z-value = NORMSINV (Service level), Using Ms Excel

Z-value = NORMSINV (0.7)

Z-value = 0.52

Optimal Order Quantity (Q) = Mean Demand + (Z-value*Standard deviation)

Optimal Order Quantity Q = 1,200 + (0.52*200)

Optimal Order Quantity Q = 1,200 + 104

Optimal Order Quantity Q = 1,304 copies

7 0

3 years ago

Why do you think states have licensing requirements for certain occupations?

kupik [55]

Answer: to prevent improper use or causing an issue with the thing they have to get a license for

8 0

3 years ago

Brent, a waiter at a restaurant, always provides good service to the customers. He believes that his supervisor is fair and hope

Serjik [45]

Answer:

D, Instrumentality

Explanation:

Instrumentality can be defined simply to mean the importance of a person or thing to situations/events.

From the above question, Brent believes in his performance as being great in the restaurant and as such expect that his importance/contribution in the restaurant will be appreciated and noticed enough to expect a salary increase.

Cheers.

4 0

4 years ago

Which of the following is true for a stock whose returns are more variable than the market's returns? a. The stock's beta will b

sdas [7]

Answer:

c. The stock's beta will be greater than one.

Explanation:

In order to understand the right answer here, we need to understand what Beta is and what does it represent.

Well, Beta tells about the responsiveness of any stock in comparison with the stock market index. For example, if the index move 100 points positive and the stock price moves $120 positive, this means that the stock is very responsive and has a high beta of more than 1. For stocks that are less response to stock market, their beta is less than 1, while for stocks who move the exact same direction as per the stock market, their beta is said to be equal to 1.

Here, in this question, since the stock return is more variable than the market return, it clearly tells that the Beta of that stock will be greater than one.

Hope this helps, Good Luck.

8 0

3 years ago